Chronicles of a Million Dollar Trader [EPUB]
28 December 2013, 15:49
2013 | EPUB | 3.87MB
In December 2007, after numerous starts, failures, restarts, and distractions, Don Miller set out to accomplish what few in the trading industry ever have—earn $1 million in a year. In his new book, Chronicles of a Million Dollar Trader; My Road, Valleys, and Peaks to Final Trading Victory, Miller takes his insights into the financial markets, coupled with his trading experiences, and shows traders what to do and how to do it to become successful.
Consistent with his ongoing mission to increase the transparency in an industry that is too often clouded by smoke and mirrors, Miller chronicles the good, the bad, and the ugly of the world of trading in painstaking detail. In the tradition of Edwin Lefèvre's legendary book Reminiscences of a Stock Operator, Miller offers an inside look at the ups and downs, failures and victories of one of the few traders to have ever earned $1 million in a calendar year by showcasing trading insights that made him more than 800% returns on his investments.
Throughout the book Miller lets readers peek over his shoulder as he tiptoes through a minefield of potential mistakes, miscalculations, and self-defeating behaviors in search of consistent profits. Along the way, he shares trading diary excerpts from 2008 to 2012, as well as his actual performance for every futures trading day from 2004 to 2011—almost 2,000 days’ worth of real trading results and analysis.
“The journal entries reflect my actual detailed notes and thoughts at the time, and include several ‘light bulb’ moments that occurred which took my trading to a new level,” says Miller. “Further, it was important to chronicle both the earlier and subsequent periods such that the reader can gain a longer-term appreciation for the effort involved in building and protecting wealth, including the challenges associated with trading for a career or secondary income. If these candid writings help just one person avoid the bloodied footprints that occasionally disappeared into crevices, then the effort will have been worth it.”
Readers will follow along as the challenge of everyday trading teaches Miller the importance of focus, motivation, controlled aggression, and just showing up—especially on those mornings he'd rather sleep in. The book tracks his progress hour by hour and day by day, how he recognizes his strengths and weaknesses, reaches or falls short of his daily goals, analyzes his results, and applies everything he learns to future trades, including valuable insights gleaned from sports, poker, and life.
Trading strategies always look great on paper. But when it comes to trading in the real world, market chaos and human unpredictability often make even the best strategies seem inadequate to the task. The hard truth all traders eventually learn is that trading is far more difficult when your chips are down and the pressure is on. Chronicles of a Million Dollar Trader reveals how successful trading is about much more than reading charts. Whether a full-time trader, part-time trader, or just considering becoming one, this insightful, revealing look inside Miller's mind offers vital lessons.
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